Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[Rain Man]

Originally Posted by Hog Farmer

So , I have determined the BEST course for long term investment is still real estate. I've bought 90% of my rental properties from sellers that are willing to finance 20% of the property and get the other 80% from the bank. Letting the renters pay of the mortgages while financing 15 year notes. It's solid.

I really think you're right. The challenge is that you have to take a very long-term view, but it seems like it's almost a guaranteed great payoff at the end. I really regret not leveraging myself more to buy rental properties 10 years ago. At my current age, the payoff won't come until I'm in my 70s, and I'm not sure that that's worth the short-term pain now.

[Discuss Thrower]

Seeing the income potential of rental properties is sobering. But, TANSTAAFL, you put up with a lot more shit.

[Rain Man]

Originally Posted by Discuss Thrower

Seeing the income potential of rental properties is sobering. But, TANSTAAFL, you put up with a lot more shit.

Granted, it's attached to my house, but my one rental unit is very little trouble and prints money for me.

[Discuss Thrower]

There Ain't No Such Thing As A Free Lunch

[lewdog]

Originally Posted by Hog Farmer

Does anybody on here subscribe to the Motley Fool ?

I follow them on Facebook. That's about it.

[R8RFAN]

Couple of years ago I had no credit score..couple of credit cards later and bam

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[eDave]

Originally Posted by R8RFAN

Couple of years ago I had no credit score..couple of credit cards later and bam

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[R8RFAN]

That looks tasty

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[mikeyis4dcats.]

Originally Posted by R8RFAN

Couple of years ago I had no credit score..couple of credit cards later and bam

Sent from my SAMSUNG-SM-G928A using Tapatalk

I churn cards for travel and rewards I've probably had 30+ cards over the last 5 years, and open and close at will.. Make the cards work for YOU. Knw your limits, and stay in control. FWIW I was a moron in college and when I graduated I had over $20k in credit card debt. Now I've made them my bitch.

[Pasta Little Brioni]

Somebody shops in a 999 in 3...2...1

[KCUnited]

[Pasta Little Brioni]

OMG

[Rain Man]

Originally Posted by Pasta Giant Meatball

Somebody shops in a 999 in 3...2...1

I don't borrow money. I loan money.

[lewdog]

Someone explain the difference between a mortgage refinance and a mortgage modify.

I just want a lower interest rate without having to pay the $4k needed in closing costs and go through the whole appraisal process. I am pretty sure the modify part doesn't fit my scenarios or more people would just do that instead of refinancing to an entirely new mortgage.

Someone fill in the blanks for me.

[Nightfyre]

Originally Posted by lewdog

Someone explain the difference between a mortgage refinance and a mortgage modify.

I just want a lower interest rate without having to pay the $4k needed in closing costs and go through the whole appraisal process. I am pretty sure the modify part doesn't fit my scenarios or more people would just do that instead of refinancing to an entirely new mortgage.

Someone fill in the blanks for me.

Modifying the existing loan occurs when you call the current mortgage holder and they agree to lower your rate, probably for a fee. However, they have very little incentive to do so since they know the costs of refinancing are high.

Refinancing requires that you originate a loan from the beginning with a new lender, which will require an appraisal, an inspection, a new mortgage document (to be recorded) and new title insurance. You will also pay an origination fee. But at least you won't have to pay a real estate broker.